Savings account


The savings account, or savings book, is a financial investment offered by a bank. It allows you to earn interest on sums of money that are saved.
Unlike a checking account, a savings account can not be used to make transfers. Your savings must first be transferred to your counterpart account. On the other hand, money in a savings account generates interest.

A checking account allows you to manage the financial affairs of your daily life, such as:
transfers,
payments using a credit card,
the collection of income.
The function of a savings account is quite different and it is not linked to a bank card. You can not make a transfer from your savings account to the current account of a third party. It is however possible to make a transfer from a savings account to your own current account or savings account with the same bank. In many cases it is also possible to Acash from a savings account.

A savings account simply allows you to put some of your income aside.

 

 

 

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